(MENAFN- EQS Group)
Issuer: Photon Energy NV / Key word(s): Forecast
04.07.2022 / 08:28
The issuer is solely responsible for the content of this announcement.
Photon Energy Group Reconfirms 2022 Financial Guidance after Record June Revenues
Amsterdam – 4 July 2022 – Photon Energy N.V. (WSE&PSE: PEN, FSX: A1T9KW) ('Photon Energy Group' or the 'Company') announces that its 91.9 MWp proprietary portfolio of PV power plants generated its highest production volume for the month of June in the Company's history with 14.83 GWh of renewable energy supplied to the grid, up 11.5% year-over-year (YoY). This resulted in the Company's record increase in estimated June revenues from electricity generation to EUR 4.47 million, up 61.6% YoY.
With over 80% of the Company's power plant portfolio selling electricity directly to the grid at market prices, the Company records a strong set of results for Q2 and H1 2022:
- In Q2 2022, the Company's power plant portfolio produced a record volume of 39.44 GWh (+21.6% YoY) of renewable energy and set a revenue record of EUR 10.80 million, up 56.8% YoY.
- In H1 2022, the Company's electricity production amounted to 66.14 GWh (+39.0% YoY), setting a revenue record of EUR 15.75 million, up 60.3% YoY.
'In this improved backdrop of electricity generation and rising energy prices, we are pleased to reconfirm our 2022 financial guidance to increase our consolidated revenues to EUR 65.0 million, which represents a 78.8% increase YoY, leading to an increase in EBITDA to EUR 18.0 million from 9.6 million in 2021 (+87.8% YoY),' said Georg Hotar, CEO of Photon Energy Group .
About Photon Energy Group – photonenergy.com
Photon Energy Group delivers solar energy and clean water solutions around the world. Its solar power services are provided by Photon Energy. Since its foundation in 2008, Photon Energy has built and commissioned solar power plants with a combined capacity of over 100 MWp and has power plants with a combined capacity of 91.9 MWp in its proprietary portfolio. It is currently developing projects with a combined capacity of 791.2 MWp in Australia, Hungary, Poland and Romania and provides operations and maintenance services for over 320 MWp worldwide. The group's second major business line, Photon Water, provides clean water solutions including treatment and remediation services, as well as the development and management of wells and other water resources. Photon Energy N.V., the holding company for Photon Energy Group, is listed on the Warsaw, Prague and Frankfurt Stock Exchanges. The company is headquartered in Amsterdam, with offices across Europe and in Australia.
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